FRANKFURT (dpa-AFX) - Delivery Hero's share price fell even further from its April high on Wednesday. The share price recently fell by 4.5 percent. Further parts of the jump in the share price from mid-May were thus leveled out. The euphoria recently triggered by the sale of activities in Taiwan and the entry of Uber is thus visibly fading.

On Wednesday, Morgan Stanley also gave up its previously optimistic vote. According to analyst Luke Holbrook, the most important short-term price drivers have now played out. They seemed priced in to him, he argued for the downgrade to "equal-weight".

The expert did mention in a sector study, in which the Saudi Arabia-based sector colleague Jahez was also downgraded, that there are some signs of progress in cash generation across the sector. Business models are also not as fundamentally flawed as some believe. However, he described it as still uncertain at what level long-term margins and free cash inflows will settle. He emphasized that he would welcome increased consolidation movements in the sector./tih/jha/